Archive for the ‘open a florida llc’ Category
Earned income credits the amount of your refund that is the amount of your refund the Irs said you get for being low income. There are certain rules that you must follow to get money. They are now cranking down on the EIC fraud.
To get the credit you must follow the rules or you will not get them.
Most of the delay in your return is when you are getting the credits.
The rule said you must have a qualified child.
Below are some of the rules to be a qualified child.
1. Child must live in the taxpayer home for over half a year. The tax payer must pay over half the cost of the home.
2. If Married must combine the income for one tax return. This means that if you are married you must file one tax return and not 2 for the same house.
3. The tax payer cannot just “give the child” to some one else because they do not work. This happens a lot when if some one is on underemployment or owe money to the government they tend to give the child to someone so the credit does not get wasted.
The above rules are found in he Internal Revue Service web address which is WWW.IRS.GOV. The IRS is cranking down so make your you file the return correctly or you never see your refund.
Should you have any questions please call our office. We are Corey and Associates. Since 1984 has been in the Tax Accounting Services for our clients. Now we are a Register Tax Preparers. We are trained to get your the correct and accurate return.
To contact us the phone number is 305-823-9228
- TurboTax – When to Use Schedule EIC, Earned Income Credit (turbotax.intuit.com)
- Four Tax Credits that Can Boost your Refund (myfinancialbodyguard.typepad.com)
www.irs.albertcorey.net My name is Albert, with Corey & Associates Tax Accountants. We have assisting out clients with their tax and Corporation questions since 1985. In this video will show how the advantages of starting a new business with a corporation or LLC. There are at least 5 reasons why you open a corporation or LLC. They are personal asset protection, credibility, branding your name, perpetual existence, tax flexibility and deductions.
Personal Asset Protection
Personal Asset protection I think is the most important of the reasons why to open a Corporation. A company is a separate entity from you. When you start the Corporation you become shareholders much like the major company like Walmart and Home Depoit. You see if something happens the shareholders are not held liable. If open a Corporation under your name, someone can sue you since you are held responsible. Should the company go under you personally will not be held for the damages of the unpaid bills.
Credibility is another important part of opening up a Corporation. As a company you become an expert the minute you say the name. The public will not see you as a start up but someone who has been in business for awhile. Trust is very important in today business life and one who has company will be trusted more than a person who does run a company. This could be important in the clients Decision making process.
Perpetual Life is a major reason why you would open a Corporation. With a corporation the name lives on no matter who is president. If you die your personal name or business will die. With a company the name can live on forever. Much like the company you buy from everyday. Wal-Mart is a prime example how the company will live one. Sam Walton died in 1992, but the company he started lives on. Regardless of their size, all businesses can benefit from incorporating.
Tax advantages are a one of the most important reasons why you would open a company. You can deduct almost everything before the amount is taxed. With a LLC or Sub S company the profits are passed on to the shareholders. Now the company pays no regular tax.
Why Corey & Associates Tax Accountants? We have been opening Corporations and LLC since 1984. We will help you choose the right type of corporation that suits your needs. Guide you through the Internal Revenue Service and state process. We will answer any of your corporation questions free of charge. Our office is located at 1800 W 68 St Suite 118, Hialeah, Fl 33104.The phone number is 305-823-9228 and the email is Albert @1040w2.com. Please add us as your friend on Facebook.com/albertcorey . Our Youtube address is Youtube.com/tax1099a.